Wp/34502/2012 Of Sai Maruthi Constructions v. Commissioner Of Income Tax-Ii

THE HON’BLE SRI JUSTICE GODA RAGHURAMAND THE HON’BLE SRI JUSTICE M.S. RAMACHANDRA RAO W.P.No34502 of 2012 Sai Maruti Constructions V The Commissioner of IT and others THE HON’BLE SRI JUSTICE GODA RAGHURAMAND THE HON’BLE SRI JUSTICE M.S. RAMACHANDRA RAO W.P.No.34502 of 2012 Oral Order : ( Per Sri GR, J ) An order of attachment of property of the petitionerpassed by the 3[rd] respondent, in purported exercise ofpowers under Section 281-B of the Income Tax Act,1961 ( for short “the Act”), is assailed in this writ petition. The order records that since there is likelihood ofsubstantial demand arising on completion of pendingassessment, for protection of the interest of theRevenue it is considered necessary to attach theproperty of the assessee. Sri S.R. Ashok, learned Senior Counsel appearingfor the respondents-Revenue states that the reasonsrecorded for exercising the power of attachment per sedo not fulfil the normative requirements of Section 281-Bof the Act, and in the circumstances, the respondents begranted liberty to revoke the impugned order ofattachment while preserving appropriate authority’spower and jurisdiction to reconsider invocation of powers under Section 281-B of the Act, but inaccordance with law. In view of the submission fairly made on behalf ofthe respondents-Revenue, we direct the respondents particularly 3[rd] respondent to rescind the impugnedorder dated 22.10.2012, with liberty to reconsiderexercise of power and jurisdiction under Section 281-Bof the Income Tax Act, 1961, in accordance with law, ifso advised. Accordingly, the writ petition is disposed of at theadmission stage after hearing Sri Challa Gunaranjan,the learned counsel for the petitioner and Sri S.R.Ashok, learned Senior Counsel for the respondents. ___________________ GODA RAGHURAM, J ________________________ M.S. RAMACHANDRA RAO, J Kk/Date :3-1-13 THE HON’BLE SRI JUSTICE GODA RAGHURAMAND THE HON’BLE SRI JUSTICE M.S. RAMACHANDRA RAO W.P.No.34502 of 2012 Dated 3-1-13